53
0ãRWRZLHUWDUNDDNXPXODWRURZD
3/
,1)250$&-(
'27<&=ć&('5*$Ę
àąF]QDZDUWRĞüGUJDĔVXPDZHNWRUDWULD[RNUHĞORQD
ZHGáXJQRUP\(1
:LHUFHQLH]
IXQNFMąPáRWDZ
EHWRQLH
:DUWRĞüHPLVMLZLEUDFMLD
K+'
PV
2
1LHSHZQRĞü. PV
2
'áXWRZDQLH
:DUWRĞüHPLVMLZLEUDFMLD
K'6
PV
1LHSHZQRĞü. PV
2
=DGHNODURZDQDFDáNRZLWDZDUWRĞüZLEUDFMLPRĪHE\ü
Z\NRU]\VWDQDGRSRUyZQDQLDMHGQHJRQDU]ĊG]LD]LQQ\P
RUD]PRĪHE\üXĪ\WDZHZVWĊSQHMRFHQLHQDUDĪHQLD
2675=(į(1,(
:DUWRĞüHPLVMLZLEUDFMLZ
F]DVLHU]HF]\ZLVWHJRXĪ\ZDQLDHOHNWURQDU]ĊG]LD
PRĪHVLĊUyĪQLüRG]DGHNODURZDQHMZ]DOHĪQRĞFLRG
VSRVREXXĪ\ZDQLDQDU]ĊG]LDZQDVWĊSXMąF\FK
SU]\NáDGDFKLLQQ\FKVSRVREDFKXĪ\ZDQLDQDU]ĊG]LD
-DNXĪ\ZDQHMHVWQDU]ĊG]LHRUD]F]\PDWHULDáMHVWFLĊW\
F]\ZLHUFRQ\
&]\QDU]ĊG]LHMHVWZGREU\PVWDQLHLF]\MHVWSUDZLGáRZR
NRQVHUZRZDQH
&]\XĪ\ZDQHVąSUDZLGáRZHDNFHVRULDQDU]ĊG]LDLF]\
QDU]ĊG]LHMHVWZáDĞFLZLHQDRVWU]RQHRUD]ZGREU\P
VWDQLH
&]\GRNUĊFRQHVąV]F]ĊNLQDXFKZ\FLHLF]\XĪ\ZDQHVą
MDNLHNROZLHNDNFHVRULDDQW\ELUDF\MQH
2UD]F]\QDU]ĊG]LHMHVWXĪ\ZDQH]JRGQLH]
SU]H]QDF]HQLHPLZHGáXJLQVWUXNFML
1LHSDZLGãRZHSURZDG]HQLHWHJRQDU]čG]LD
PRİHVSRZRGRZDþV\QGURPZLEUDFMLUĈN
2675=(į(1,(
:V]F]HJyOQRĞFLRV]DFRZDQLH
SR]LRPXHNVSR]\FMLZU]HF]\ZLVW\FKZDUXQNDFK
XĪ\ZDQLDSRZLQQREUDüWDNĪHSRGXZDJĊZV]\VWNLH
HOHPHQW\F\NOXG]LDáDQLDWDNLHMDNF]DV\Z\áąF]HQLD
QDU]ĊG]LDLF]DVEH]F]\QQRĞFLDOHQLHU]HF]\ZLĞFLH
Z\NRQ\ZDQąSUDFĊ0RĪHWR]QDF]QLH]PQLHMV]\ü
SR]LRPHNVSR]\FMLZFDá\PRNUHVLHSUDF\
3RPRFZPLQLPDOL]DFMLQDUDĪHQLDQDZLEUDFMH
1DOHĪ\=$:6=(XĪ\ZDüRVWU\FKGáXWZLHUWHáLRVWU]\
1DU]ĊG]LHQDOHĪ\NRQVHUZRZDü]JRGQLH]LQVWUXNFMDPLL
SUDZLGáRZRVPDURZDüZRGSRZLHGQLFKPLHMVFDFK
-HĞOLQDU]ĊG]LHMHVWXĪ\ZDQHUHJXODUQLHQDOHĪ\]DNXSLü
DNFHVRULDDQW\ZLEUDF\MQH
1DOHĪ\]DSODQRZDüKDUPRQRJUDPSUDF\ZFHOX
UR]áRĪHQLDXĪ\ZDQLDQDU]ĊG]LZ\WZDU]DMąF\FKZ\VRNL
SR]LRPGUJDĔQDNLONDGQL
$.&(625,$
:;
:;
:;
àDGRZDUND
:$
:$
$NXPXODWRU
:$
2
1
:LHUWáD6'6
PPPPPP
5\QV]WXQHN6'6
ELWyZ 3XQNWGáXWD
1
=DOHFDVLĊ]DNXSZV]\VWNLFKDNFHVRULyZZVNOHSLH
JG]LH]DNXSLRQRQDU]ĊG]LH:LĊFHMV]F]HJyáyZPRĪQD
]QDOHĨüZGRGDWNRZ\PRSDNRZDQLX3HUVRQHOVNOHSX
PRĪHUyZQLHĪXG]LHOLüSRPRF\LSRUDG
,16758.&-$2%6â8*,
8:$*$
3U]HGXĪ\FLHPQDU]ĊG]LDQDOHĪ\
XZDĪQLHSU]HF]\WDüLQVWUXNFMH
8į<7.2:$1,(=*2'1,(=
35=(=1$&=(1,(0
8U]ąG]HQLHSU]H]QDF]RQHMHVWGRZLHUFHQLDXGDURZHJR
LNXFLDZEHWRQLHFHJáDFKLNDPLHQLX0RĪQDUyZQLHĪ
XĪ\üGRNXFLDGáXWRZDQLDZEHWRQLHLSá\WNDFKSRG
UyĪQ\PNąWHPEH]GRGDWNRZ\FKQDU]ĊG]L1DGDMHVLĊ
UyZQLHĪGRZLHUFHQLDZGUHZQLHPHWDODFKFHUDPLFHL
WZRU]\ZDFKV]WXF]Q\FKEH]HIHNWyZXERF]Q\FK
2%6â8*$
'=,$â$1,(
5<681(.
:NáDGDQLHZLHUWHáGáXWRZQLH
3DWU]5\V$
:\MPRZDQLHZLHUWHáGáXWRZQLH
3DWU]5\V$
8FKZ\WGRGDWNRZ\
3DWU]5\V%
5HJXODFMDRJUDQLF]QLNDJáĊERNRĞFL
3DWU]5\V&
6SUDZG]DQLHVWDQXQDáDGRZDQLD
DNXPXODWRUD
8:$*$)LJ'GRW\F]\Z\áąF]QLH
DNXPXODWRUNDZ\SRVDĪRQHJRZ
NRQWURONĊĞZLHWOQą
3DWU]5\V'
àDGRZDQLHDNXPXODWRUD
8:$*$
$NXPXODWRUHNMHVWGRVWDUF]DQ\
ZUR]áDGRZDQ\PVWDQLH3U]HG
SLHUZV]\PXĪ\FLHPQDOHĪ\
GRáDGRZDü
:LĊFHMV]F]HJyá]QDMGXMHVLĊZ
LQVWUXNFMLREVáXJLáDGRZDUNL
3DWU]5\V'